Weekly Roundup: New AI medical centre to combat breast cancer plus top coding salaries for 2019

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Here are your top news stories in the world of AI and Data Science...

Healx secures $56M in Series B funding

The UK technology company which specialises in treatments for rare diseases will use the money for the development of 40 new rare disease projects and speed up the progress of Healx’s 10 existing programmes, one of which is in clinical trials.

Not your usual business model within the world of AI-led drug discovery. Instead of looking for new products, Healx is using its technology to find cures for rare diseases among existing, mainly off-patent, drugs.

Their data-driven approach has significantly cut development times, with targets typically moving into clinical trials within 24 months. It also means that the group can rapidly scale drug development, hence the ambitious-looking target of 40 new programmes.

Full article here

AI spending in Asia set to pass $6B mark

That is almost a 54% increase from last year!

According to IDC findings, investments on AI systems is expected to increase to $21.4 billion by 2023, driven by “aggressive” market spending at customer-level.

“AI is having an impact across many industries with widespread utilisation but is still at a nascent stage in Asia Pacific,” said Ritika Srivastava, associate market analyst, IDC.

“Banking will predominantly use AI and cognitive systems for fraud analysis and investigation, as well as automated customer service agents,” IDC stated.

“Close behind is retail in terms of investments in AI-enabled solutions with use cases such as expert shopping advisors and product recommendations and merchandising for omni-channel operations - shaping the industry, representing 45.1 per cent of the overall retail industry spend in 2019.”

Read full article here

New US centre set to accelerate the use of artificial intelligence in radiology and medical imaging.

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